Banking Code
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The Banking Code was a voluntary code of practice agreed by United Kingdom banks.
On 1 November 2009 the Financial Services Authority (FSA) Banking Conduct Regime commenced[1]. It applies to the regulated activity of accepting deposits, and replaces the non-lending aspects of the Banking Code and Business Banking Code (industry-owned codes that were monitored by the Banking Code Standards Board).
The Banking Code had also regulated legal liability of banks for disputed debit and credit card transactions. On 1 November 2009 it was superseded by the FSA Payment Services Regulations 2009[2], amongst other things making banks legally liable for transactions unless they could prove that customers had authorised them[3].
[edit] See also
[edit] References
- ^ FSA: The Banking Conduct Regime and the Banking Conduct of Business sourcebook (BCOBS), in force from 1 November 2009
- ^ FSA: Payment Services Regulations 2009, in force from 1 November 2009
- ^ Telegraph - Card fraud: banks now have to prove your guilt. New FSA regulations. 12 February 2010
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